The Proper Start-up Strategy Can Impact Your Profits for Years to Come
Knowing and overseeing the thousands of details required for a successful medical practice start-up is not the only key to success. The key is to achieve the tasks in the proper sequence and to know which tasks are prerequisites for others. This helps keep your start-up on schedule, avoids costly delays, and prevents you from delaying important decisions that impact profits.
Physicians often think they can save a few dollars with a do-it-yourself start-up; however, this often costs them tens of thousands of dollars over the first few years of their practice. For example, not getting credentialed with the right carriers can cause you to miss two additional new patients per day for the first three months. That translates to $300 per day, or up to $6,000 per month of missed revenue. Also, the right marketing plan might bring in three more patients per day for the first two or three years. Without the right plan, you could cost yourself tens or even hundreds of thousands of dollars. These are only a few examples of how a proper start-up strategy can positively impact your profits for years to come.
The above examples are some of the costs of simply relying on a checklist. Even the most comprehensive list can’t convey the key elements of success, nor can it convey the value that comes with the experience of having set up medical practices for over 50 years.
Our team has helped hundreds of physicians launch successful medical practices, and we have refined the process to help ensure a successful practice start-up. We provide start-up services for
- Solo and multi-physician medical practices in all specialties,
- Mid-level provider and nurse practitioner-owned practices, and
- Hospital-owned practice acquisitions.
We know what needs to be done and we know how to do it effectively and efficiently. We can even work with you after the initial medical practice start-up to help keep you moving into higher levels of professional success.
Schedule a time to talk with one of our start-up experts today to learn how our team can help reduce the stress of opening a practice and how you can enjoy the personal and professional satisfaction that comes with venturing into this exciting stage of your career.
CASE STUDY – How one client went from fellowship to profitability in 13 months.